On long term chart L&T have broken the down trend. There is lack of volume support to prove the breakout.This means that this stock will not start a bull rally right away but a sideway movement for a while. It will be back from 1600 levels.

However on the mid term chart one can see that OBV is making new highs while the stock was moving sideways. This means that the fall in August 12 was not with bear participation this makes 1300 a very significant support. This means with all falls this stock is being bought for longer term by various investors.

As I always say “Do not go by tips” hence the question arises why I give away tips for free. . . .

Here are the reasons :
1. This tips blog acts as my own diary of keeping notes which I can refer when I have time.
2. I EARN out of my tips as I invest based on my own tips. Since I can
make money using my tips why should I charge for such tips from which I
already make money ?
3. If I sell these tips I need to be more commited and serious. I am not
a professional Technical Analyst and do this chart analysis and TA as
more of a hobby. So you will find me active on few days while no message
from me on other days when I am busy with other things.
Last but not least . . . .
4. I make good friends by posting these charts. They help me spot stocks.
These friends of mine ask me to check perticular stocks which interest
them. While evaluating them I find them making good move and I make
money. Infact most of the stocks which I made good money were such
queries. . . Titan, SEAMEC, Simplex Infra . . . . are some of them.

I post these tips for my records while you can use them along with your own risk management plan . . .

This volatility and lot of success stories in stock market always brings
new small investors at a wrong time in the market. I came the same way.
Here is good suggestion BUY good books on investment and read lot of
online material available learn basic. Also charts with explanation
posted on this groups are also very good learning tools.

Learn to invest in stock market and then enter the market. Make an
informed investment decision. Why do you invest in a particular stock
should be very clear to you, don’t go by tips but ask for reason why
someone is giving such tips.
Also keep this in mind:

“WHEN YOU LOSE DO NOT LOSE THE LESSON”

Hence loss made in stock market is the BEST INVESTMENT you can ever make
as it can teach you something which no-one will be able to teach you.
Then its up to you to learn that lesson and persist on investing in the
stock market.
There are cases of people staying away from stock market as they made loss the first time.

You need to invest lot of time in this market to really get ready and make a killing and keep doing it.

Since last 1998 I am in this market and 2008 I did not make more than
15% of my investment in Stocks. I am just happy that I did not make any
loss in a fall for first time in these 12yrs. This is very small example
of persistence. Mr Jhunjhunwala (The big bull of this run-up) is in
this market since sensex was in 3 digits.

May luck bless you with good learning losses (lessons) in your first
investments and May god give you intellect and strength to learn them.

So start small so that you make small losses which you would absorb without getting desperate.